Länsförsäkringar Hypotek: Year-end report 2019

”Länsförsäkringar Hypotek continued to perform well in 2019 and we delivered strong operating profit for the year. Our position in the mortgage market was further strengthened and with a market share of 7% we are one of the larger mortgage institutions in Sweden. Growth in lending was high despite the prevailing competition in the mortgage market, at the same time as the credit quality of the loan portfolio remained very high. The housing market trend was stable and housing prices rose during the year. However, we can state that clear initiatives are once again lacking from politicians to improve the function of the housing market. To gain a well-functioning housing market with more efficient turnover, housing policy need to be completely reformed, in particular to make it easier for those groups struggling to gain a foothold on the market”, says Anders Borgcrantz, President of Länsförsäkringar Hypotek.
 

The year in brief:
 

• Operating profit increased 13% to SEK 1,229 M (1,084) and the return on equity rose to 8.1% (7.7).
• Net interest income rose 4% to SEK 2,522 M (2,434).
• Credit losses amounted to SEK –0.9 M (–1.3), net, corresponding to a credit loss level of –0.00% (–0.00).
• Lending increased 9% to SEK 240.1 billion (221.1).
• The Common Equity Tier 1 capital ratio amounted to 18.2% (18.0*) on 31 December 2019.
• Länsförsäkringar remains one of the players on the market with the most satisfied retail mortgage customers according to the 2019 Swedish Quality Index customer satisfaction survey.
   

Figures in parentheses pertain to the same period in 2018.
* Pertains to 30 September 2019.

Read more
https://www.lansforsakringar.se/financial-hypotek/

     
For further information, please contact:

Anders Borgcrantz, President, Länsförsäkringar Hypotek AB,
+46 (0)8-588 412 51, +46 (0)73-964 12 51

Martin Rydin, CFO, Länsförsäkringar Hypotek AB,
+46 (0)8-588 412 79, +46 (0)73-964 28 23

Stefan Karkamanis, Investor Relations, Länsförsäkringar Bank AB,
+46 (0)8-588 402 90, +46 (0)72-310 00 80
    
  
This is information that Länsförsäkringar Hypotek AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET on 6 February, 2020.


The Länsförsäkringar Alliance is comprised of 23 local and customer-owned regional insurance companies and the jointly owned Länsförsäkringar AB. Customers are provided with a complete offering of banking and life and non-life insurance services through their local, regional insurance companies. We offer animal and crop insurance through Agria Djurförsäkring, total solutions for reliable mortgage transactions through Länsförsäkringar Fastighetsförmedling, and financing services such as leasing, instalment payments, and loans through Wasa Kredit.